Tokenization of social impact on the blockchain and related methods

ABSTRACT

Systems and methods for digital tokenization. A method includes issuing a token to a user based on an investment made by the user by recording a first transaction on a decentralized ledger indicating ownership of the token. The decentralized ledger is distributed across nodes among a decentralized network such that at least one portion of code is stored across the nodes, where the portions of code are encoded based on project parameters of an impact project. A third transaction is recorded on the decentralized ledger by generating a transaction specifying progress on the impact project and broadcasting the generated transaction to the decentralized network. A second transaction is recorded on the decentralized ledger via the portions of code based on the project parameters and the third transaction recorded on the decentralized ledger, where the second transaction includes a respective transfer via the token issued to the user.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a continuation of U.S. patent application Ser. No.16/718,567 filed on Dec. 18, 2019, now allowed, which claims the benefitof U.S. Provisional Application No. 62/781,199 filed on Dec. 18, 2018.

The contents of the above-referenced applications are herebyincorporated by reference.

TECHNICAL FIELD

The present disclosure relates generally to tokenization of socialimpact or social good on a blockchain and related methods for fundingsocial impact or social good projects that generate social benefit butmay not otherwise be funded without improvements to technology andmethodology.

BACKGROUND

Frequently, the market fails to capture the value of social good. Newfinancial instruments are beginning to emerge to capture theseexternalities (for example, social impact bonds, income shareagreements, and micropatronage). In a few cases, these new technologiesare scalable (for example, the internet and smart phone-enabledcrowdfunding). However, in most cases, a value-capturing technology hasyet to be invented to incentivize social good—particularly where theoutcomes are not guaranteed (i.e., not de-risked).

For example, social impact bond is a contract typically made with agoverning entity or otherwise an actor in the public sector. Pursuant tothis contract, an entity invests in a social good activity and, inexchange, becomes entitled to a reward based on the savings achieved bythe social good activity. Because the reward is based on the actualsavings achieved, the investing entity only receives a reward if thesocial good activity successfully achieves its intended result.

Due to the contingency inherent in social impact bonds, attractinginvestors can be challenging. In particular, projects which have a lowlikelihood of success or which require a large investment may be deemedtoo risky to invest in. Thus, techniques for attracting investors aredesirable.

It would therefore be advantageous to provide a solution that wouldovercome the challenges noted above.

SUMMARY

A summary of several example embodiments of the disclosure follows. Thissummary is provided for the convenience of the reader to provide a basicunderstanding of such embodiments and does not wholly define the breadthof the disclosure. This summary is not an extensive overview of allcontemplated embodiments, and is intended to neither identify key orcritical elements of all embodiments nor to delineate the scope of anyor all aspects. Its sole purpose is to present some concepts of one ormore embodiments in a simplified form as a prelude to the more detaileddescription that is presented later. For convenience, the term “someembodiments” or “certain embodiments” may be used herein to refer to asingle embodiment or multiple embodiments of the disclosure.

Certain embodiments disclosed herein include a method for tokenizationof social good via blockchain. The method comprises: issuing a token toa user based on an investment made by the user, wherein issuing thetoken to the user further comprises recording a first transaction on adecentralized ledger indicating ownership of the token; distributing thedecentralized ledger across a plurality of nodes among a decentralizednetwork such that at least one portion of code is stored across theplurality of nodes, wherein the at least one portion of code is encodedbased on a plurality of project parameters of an impact project;recording at least one third transaction on the decentralized ledger,wherein recording each of the at least one third transaction furthercomprises generating a transaction specifying progress on the impactproject and broadcasting the generated transaction as one of the atleast one third transaction to the decentralized network; and recording,via the at least one portion of code, at least one second transaction onthe decentralized ledger based on the plurality of project parametersand the at least one third transaction recorded on the decentralizedledger, wherein each second transaction includes a respective transfervia the token issued to the user.

Certain embodiments disclosed herein also include a non-transitorycomputer readable medium having stored thereon causing a processingcircuitry to execute a process, the process comprising: issuing a tokento a user based on an investment made by the user, wherein issuing thetoken to the user further comprises recording a first transaction on adecentralized ledger indicating ownership of the token; distributing thedecentralized ledger across a plurality of nodes among a decentralizednetwork such that at least one portion of code is stored across theplurality of nodes, wherein the at least one portion of code is encodedbased on a plurality of project parameters of an impact project;recording at least one third transaction on the decentralized ledger,wherein recording each of the at least one third transaction furthercomprises generating a transaction specifying progress on the impactproject and broadcasting the generated transaction as one of the atleast one third transaction to the decentralized network; and recording,via the at least one portion of code, at least one second transaction onthe decentralized ledger based on the plurality of project parametersand the at least one third transaction recorded on the decentralizedledger, wherein each second transaction includes a respective transfervia the token issued to the user.

Certain embodiments disclosed herein also include a system fortokenization of social good via blockchain. The system comprises: aprocessing circuitry; and a memory, the memory containing instructionsthat, when executed by the processing circuitry, configure the systemto: issue a token to a user based on an investment made by the user,wherein issuing the token to the user further comprises recording afirst transaction on a decentralized ledger indicating ownership of thetoken; distribute the decentralized ledger across a plurality of nodesamong a decentralized network such that at least one portion of code isstored across the plurality of nodes, wherein the at least one portionof code is encoded based on a plurality of project parameters of animpact project; record at least one third transaction on thedecentralized ledger, wherein recording each of the at least one thirdtransaction further comprises generating a transaction specifyingprogress on the impact project and broadcasting the generatedtransaction as one of the at least one third transaction to thedecentralized network; and record, via the at least one portion of code,at least one second transaction on the decentralized ledger based on theplurality of project parameters and the at least one third transactionrecorded on the decentralized ledger, wherein each second transactionincludes a respective transfer via the token issued to the user.

BRIEF DESCRIPTION OF THE DRAWINGS

The subject matter disclosed herein is particularly pointed out anddistinctly claimed in the claims at the conclusion of the specification.The foregoing and other objects, features, and advantages of thedisclosed embodiments will be apparent from the following detaileddescription taken in conjunction with the accompanying drawings.

FIG. 1 illustrates an example of a system for tokenization of socialimpact or social good using blockchain technology according to anembodiment.

FIG. 2 illustrates a schematic diagram of tokenization of social impactor social good using blockchain technology, according to animplementation of the disclosure.

FIG. 3 illustrates a schematic diagram of a smart contract havingself-executing code for tokenizing social impact or social goodaccording to an embodiment.

FIG. 4 illustrates an example of a process of issuing crypto-tokensrecorded on the blockchain for social impact or social good according toan embodiment.

FIG. 5 illustrates an example of a process of providing milestoneupdates for automatically obtaining tiers of funding based on a smartcontract according to an embodiment.

FIG. 6 illustrates an example of a process of automatically obtainingfunds from backers according to the smart contract according to anembodiment.

FIG. 7 illustrates a schematic diagram of a social outcome fund,according to an implementation of the disclosure.

FIG. 8 illustrates an example of a process of implementing a socialimpact fund, according to an implementation of the disclosure.

FIG. 9 is an example schematic diagram of a system utilized according tovarious disclosed embodiments.

DETAILED DESCRIPTION

It is important to note that the embodiments disclosed herein are onlyexamples of the many advantageous uses of the innovative teachingsherein. In general, statements made in the specification of the presentapplication do not necessarily limit any of the various claimedembodiments. Moreover, some statements may apply to some inventivefeatures but not to others. In general, unless otherwise indicated,singular elements may be in plural and vice versa with no loss ofgenerality. In the drawings, like numerals refer to like parts throughseveral views.

The disclosure relates to tokenization of social impact or social goodon a blockchain and related methods for funding projects that generatesocial benefit. For example, the blockchain tokenizes social good,encouraging investment in activities that would otherwise not get fundedthrough conventional means but that benefit society (these activitieswill be referred to as “social impact projects”). Investors that fundsocial impact projects may be issued a cryptocurrency token based on theinvestment, which is written to a decentralized ledger. The ledgerprovides secure and immutable proof of ownership of the token.Investments may be directed to a social outcome fund (SOF), which fundsone or more social impact projects. In some instances, the SOF and thetoken will be specific to a social impact project (in which case aninvestor may select particular social impact projects to fund) or may begeneric for multiple social impact projects. More generally,implementing the SOF may be seen as a method for funding and monetizingsocial impact projects that generate social good but may not otherwisebe funded. Technology and methods that facilitate the foregoing will bedescribed with reference to the figures. Various examples usedthroughout will refer to a social fund relating to funding discovery ofnovel indications for generic or drugs for convenience. Other socialimpact projects that generate other social good may be funded as well.

The technology described herein transforms social impact and social goodinto commodities and/or assets that may be securitized, which in somecases may also be fungible (e.g., units of clean air). This renderssocial impact and social good transactable and introduces liquidity—andultimately potentially market efficiency—to a space that capitalism andmarket forces have been hitherto unable to address. In this manner, thistechnology enables the funding and execution of a class of social impactand social good projects that traditional markets have previously beenunable to fund.

Additionally, the disclosed embodiments allow for providing value inexchange for contributions to social good in a manner that ensuresanonymity of users, i.e., of investors, payers, evaluators, or acombination thereof. Specifically, transactions recorded on theblockchain in accordance with the disclosed embodiments provideassurance of rewards through self-executing contracts upon completion ofmilestones without requiring identification of entities evaluating thesocial impact, thereby preventing collusion that might cause investorsor payers to lose confidence in the terms of the smart contract and,therefore, to be disincentivized to participate.

The disclosed embodiments also provide techniques for ensuring accurateenforcement of the smart contract. More specifically, electronicmessages including indications of progress on a social impact project,transfers of funds, or both may be recorded as transactions on ablockchain and distributed across nodes of a blockchain network. Thedistributed recordation provides assurance to users that the records ofprogress and transfers of funds cannot be later modified. Further, thetransactions recorded on the blockchain may be verified prior torecordation, thereby ensuring, for example, that terms of the smartcontract enforced via self-executing code of the smart contract areenforced based on accurate data.

The disclosed embodiments also provide enabling technology for socialimpact and social good contracts that require distributed and/or largenumbers of participating agents. For example, the disclosed embodimentsallow for effective implementation of a project backed by the propertyvalue of thousands of individual buildings, or a project in which airquality readings are automatically downloaded from consumer-ownedmonitors across thousands of households.

Beyond its colloquial usage, “social impact” may refer to change(Δ)—positive, negative, or otherwise—often created by an intervention.The value of this change can be represented as a token. Examples mayinclude: curing or preventing disease (positive impact), decreasingrecidivism (positive impact), generating pollution (negative impact),and/or other forms of social impact. Quantification of “social impact”may be derived from existing forms of measurable value such as savings,secondary savings, revenue, or asset appreciation; derived from novelforms of measurable value; determined by arbitrary metrics; one or moreother quantification techniques; or a combination thereof. Verificationthat a given amount of “social impact” has been achieved could bedetermined on a case-by-case basis by a third-party auditor (such as anagency, database, other information source or predetermined entity, or acombination thereof). Alternatively, template smart contracts couldencode standardized metrics, automated milestone-triggered payments(reporting of which could be regulated by “the platform” or by the FCC),or both, thereby establishing standardization in the sector. Value of agiven token may be 1:1 with the “social impact” it represents, ordetermined by other means of price setting such as, but not limited to,a market (ala stock pricing).

“Social good” may refer to a good or asset itself, such as clean air,which may have a finite quantity that can be represented as tokens.Value of a given token may be 1:1 with the “social good” it represents(ala commodities), or determined by other means of price setting, suchas a market (ala stock pricing). “Social impact” and “social goods” areoften externalities in the current economy; the value of some of theseexternalities can be captured by the tokenization technology disclosedherein.

FIG. 1 illustrates an example of a system 100 for tokenization of socialimpact or social good using blockchain technology according to anembodiment. System 100 may include a social outcomes self-executingcontract 101 (also referred to herein as “smart contract 101”), tokens103, a social outcome fund 105 (or “SOF 105”), a blockchain network 108,a social outcome server 106, various wallets (111, 121, 131) of variousentities (investor 110, executor 120, backer 130), a decentralizedledger 140, other components, or a combination thereof. The socialoutcome server 106 may be programmed to execute management of the SOF105. For example, the social outcome server 106 may be operated by anoperator of the SOF 105 and may register or otherwise set up socialimpact projects and corresponding smart contract 101.

Smart Contract

Smart contract 101 may include self-executing computer code thatautomatically carries out the operational terms of an agreement, betweenvarious parties (such as investors 110, executors 120, backers 130,other parties, or a combination thereof). For example, the terms may bewritten into and executed by the lines of code. The code may be storedacross the distributed nodes 104 of the decentralized blockchain network108. The smart contract 101 may automatically receive data from varioussources such as investors 110, executors 120, backers 130, otherentities, or a combination thereof, and programmatically implementdecisions that are automatically executed based on the received data.

Tokens

A token 103 may include crypto-tokens issued to an investor 110 orothers. The tokens 103 may be issued as part of an Initial Coin Offering(“ICO”) for providing proof of funding by an investor into the SOF 105.Each token 103 may be issued specifically for a social impact project ormay be issued generally for use in all social impact projects and otheruses. In some implementations, the token 103 may be implemented as acryptocurrency. A cryptocurrency is a digital currency that usescryptography for security and for which transactions are typicallyrecorded to a blockchain. As such, tokens 103 may serve as a digitalcurrency, but can also be programmed to include additionalfunctionality, such as proof of investment and other functionality.

In an embodiment, each token has a value that may be backed by value ofone or more external entities or assets (i.e., entities or assets whosevalue is not directly connected to the smart contract or tokens). Asnon-limiting examples, such external entities may include tangible itemsor commodities (e.g., gold), savings achieved by social impact projects(e.g., reduction in healthcare costs for a country), value added due tosocial impact projects (e.g., an increase in value to real estate causedby a social impact project), novel commodities (e.g., cloud cover), or acombination thereof.

Recordation of ownership of the tokens 103 may occur via a block 142 inthe decentralized ledger 140. Typically, this is implemented usingpublic key/private key encryption. A user (such as investor 110,executor 120, backer 130) may be assigned with a public key that ispublished to the blockchain network 108 and a private key that is heldby the user in secret. The public key may publicly identify the user andmay be stored in association with the user's wallet (111, 121, 131),which is associated with a balance of tokens 103, other value, or both,owned by the user. The user may sign transactions using the private key.For example, the user may encrypt a transaction using the user's privatekey. Only the user's public key associated with the user's private keycan decrypt data encrypted with the private key. The blockchain network108 may verify the identity of the user (and that the user indeed signedthe transaction) by decrypting the transaction using the user's publickey. In some instances, tokens 103 may be transferred between users,such as through their respective wallets (111, 121, 131). As such, atoken 103 may be traded and exchanged mediated through the blockchain.

The Social Outcome Fund—Project Specific or Generalized Pool of Funds

The SOF 105 may include funds received from investors 103 or others.Funds from the SOF 105 may be provided to one or more social impactprojects, such as to executors 120 that work toward providing socialgood and completing a social impact project. An SOF 105 may beproject-specific or a generalized fund for all projects. For example, insome instances, one SOF 105 may be specific for a first social impactproject while another SOF 105 may be specific for a second social impactproject. In these instances, an investor 110 may select a particular SOF105 in which to invest. Alternatively, a single SOF 105 may serve as ageneral fund for funding multiple social impact projects. In theseinstances, operators of the SOF 105 may select specific social impactprojects in which to invest on behalf of the investor 110. In eitherinstance, the investor may be issued one or more tokens 103 based on theamount of the investment. In some instances, an investor 110 donatesfunds to the SOF 105 and not expect a return on the investment. In theseinstances, the investor 110 may relinquish all or portion of the valueof the tokens 103 back to the SOF 105 or other holder of tokens. Anyreturns from these “donated” tokens 103 may be provided back to the SOF105 for funding social impact projects.

The Blockchain Network

The blockchain network 108 may include multiple nodes 109 connected toone another, such as using a peer-to-peer connection. Each node 109 mayexecute a blockchain agent (such as blockchain software) to access thedecentralized ledger 140 and communicate with one another. In someinstances, users of the system may be provided with blockchain agentsfor execution at their devices. For instance, various users or systemcomponents may be assigned with a blockchain wallet application(illustrated as wallets 111, 121, 131). Each wallet may hold a value oftokens 103. To hold tokens 103, each wallet may be assigned with apublic key and a private key. The private key may be held in secret byeach wallet while the public key may publicly available to identify thecorresponding wallet. The public key may be used to identify tokens 103held by a user that holds the corresponding private key. A given walletmay “hold” tokens 103 based on an association of the tokens 103 with thewallet's public key recorded on the decentralized ledger 140.

Blockchain transactions may include electronic messages that are sentfrom a sender to the blockchain network 108. Such messages may includean indication of progress of a social impact project (such asachievement of a milestone), an indication of an amount of funds to betransferred (such as an investment amount from an investor), othermessages, or a combination thereof, for processing on the blockchain.For example, all or a portion of the tokens 107 may be transferredbetween wallets by generating a blockchain transaction that identifies arecipient's public key and a transfer amount. The blockchain transactionmay be signed by the sender, and broadcast and relayed to various nodes109 in the blockchain network 108 in a peer-to-peer manner. Theblockchain network 108 may verify the transaction by using the sender'spublic key to verify that the sender actually signed the transaction.Other consensus validation processing may be performed as well.

Once validated, the transaction may be accepted by consensus and writtento a block 142, which is added to the decentralized ledger 140. Thetransaction may be grouped with other transactions into a single block142. For Proof-of-Work implementations, the transaction(s) may be hashedtogether with a nonce and the hash of the previous block 142 until ahash value below a threshold value is found (as set by the blockchainnetwork 108). Various nodes 109 may compete to add blocks 142 to thedecentralized ledger 140. As a reward for doing so, operators of nodes109 may be provided with a reward in the form of a transaction fee,which may be paid for by the SOF 105, investors 110, executors 120,backers 130, others, or a combination thereof. For Proof-of-Stakeimplementations, the transaction(s) may be hashed together by nodes 109that hold a certain number or value of tokens 107 (thereby proving theirstake in the system).

The Decentralized Ledger

The decentralized ledger 140 may include a series of blocks of data142A-N (where N is an integer having a value of 1 or greater) that arechained together. For example, each block 132 may be identified by ahash. Each block 142 may include a reference to a previous block's hash.In this manner, the blocks of data may be chained together. An exampleof a decentralized ledger is described in the white paper “Bitcoin: APeer-to-Peer Electronic Cash System,” by Satoshi Nakamoto (bitcoin.org),the contents of which are hereby incorporated by reference. Otherblockchain platform technologies may be used as well, such as theEthereum platform, described in the white paper, “EthereumSpecification” (https://github.com/ethereum/wiki/wiki/White-Paper), thecontents of which are hereby incorporated by reference. It should benoted that the foregoing examples of decentralized ledgers do notinclude various features disclosed herein that facilitate social impactand are used as examples of distributed ledgers. Full or partial copiesof the decentralized ledger 140 may be stored at or by each node 109.

Stakeholders

Various individuals or entities may use the systems and methodsdescribed herein to promote social good. For instance, investors 110 mayinvest in the SOF 105 to promote social good and/or obtain a return ontheir investment, executors 120 may work on social impact projects tobenefit society and/or achieve profits, backers 130 may enjoy benefitssuch as cost savings resulting from the projects and pass along all orportion of the benefits or savings back to the SOF 105 for distributionas returns back to the investors. An investor 110 may include one ormore individuals, entities, or a combination thereof, that investcapital that is used to fund the execution of a project. An executor 120may include one or more individuals, entities, or a combination thereofthat receive funding to ideate, plan, or execute a project that causes apositive social outcome and/or creates or supports common good. A backer130 may include one or more individuals, entities, or a combinationthereof that either save money, gain money, or volunteer an arbitrarybounty and/or prize when a social outcome is achieved by a project.Backers may agree to contribute fiat currency, cryptocurrency (likeBitcoin or Ether) other than tokens 103, another currency or value, or acombination thereof. Backers 130 may include, but are not limited to,hospitals, government agencies, insurance companies, and otherindividuals or entities that obtain a benefit from the social impactproject. In some instances, this benefit may be quantifiable, such aswhen use of a generic or otherwise less expensive drug can replace oraugment the use of a brand or otherwise more expensive drug. Thisdiscovery may lower the cost of treating diseases, which may have adirect impact on the profitability of an insurance company. In theseinstances, the smart contract 101 may specify that a percentage of thequantifiable savings be provided as a return to the SOF 105. In otherinstances, this benefit may not be quantifiable, in which case thebackers 130 may agree to generally provide funds when a social impactproject is started and/or when milestones are achieved.

Investors 110, executors 120, backers 130, or capital may also beobtained—or social good projects may be executed—through crowd-sourcing.Example social impact projects enabled by this technology include, butare in no way limited to, share-in-savings and share-in-revenue-backedinfrastructure projects (such as national water purification anddistribution systems in developing nations); climate change mitigationprojects with local governments or private real-estate holders asbackers (such as a share-in-property-value-backed project to preventcoastal land loss); share-in-prize-based community-investor fundedstudent participation in academic competitions; a “clean air economy” or“clean water economy” composed of a finite number of tokenized “commongood” units (clean air and clean water, respectively) which captures thenegative externality of pollution and the positive externality of carbonsequestration; and/or other social impact projects enabled and/orexecuted through crowd-sourcing.

Tokenizing Investments For Social Good

FIG. 2 illustrates a schematic diagram 200 of tokenization of socialimpact or social good using blockchain technology, according to animplementation of the disclosure. Investors 110 may provide risk capitalin exchange for one or more tokens 103. The risk capital may includefiat currency, cryptocurrency (like Bitcoin or Ether) other than tokens103, another currency/value, or a combination thereof. The risk capitalmay be used to fund the SOF 105. Funds from the SOF 105 may be providedto executors 120. Such funding may be tiered based on achievement ofmilestones. As will be described with respect to FIG. 3 , funding may beautomatically provided from the SOF 105 to the executors 120 byexecution of the smart contract 101 for the social impact project. Theexecutors 120 may use the funds to conduct research or otherwise productsocial outcomes that are beneficial to society. For instance, theexecutors 120 may research and discover new uses of existing drugs thatare off-patent. This type of research can greatly benefit society, astreatments for disease using relatively inexpensive (off-patent) drugsmay be discovered that would not otherwise be discovered since, due tothe relative unenforceability of method-of-use pharmaceutical patents asa result of off-label prescribing, pharmaceutical companies tend toconcentrate research and development on discovery of novel drugcompounds (not novel uses of existing drugs).

Backers 130 may agree to pass along a percentage of savings resultingfrom the social benefit and savings back to the SOF 105, which may bedistributed back to investors 110 as returns on investment. Such returnsmay be based on the amount of investment made by the investors into theSOF 105, as recorded in their ownership of tokens 103. It should benoted that some or all of the fund transfers may be made automaticallyvia execution of the smart contract 101 for the social impact project,via the SOF 105 as a whole, or both. It should be further noted thatsuch fund transfers may be made via various wallets disclosed herein.Furthermore, in some implementations, the funds themselves may be in theform of tokens 103, other currencies, or a combination thereof.

FIG. 3 illustrates a schematic diagram 300 of a smart contract 101having self-executing code for tokenizing social impact or social goodaccording to an embodiment. The smart contract 101 may be encoded withmultiple milestones 302 (302A-N, where N is an integer having a value of1 or greater), other conditions 306, or a combination thereof. Eachmilestone 302 may have a corresponding self-executing code 304 (304A-N)that may be automatically executed by the blockchain network 108 (e.g.,by one or more nodes 104). For example, each milestone 302 may bevalidated according to the corresponding self-executing code 304. Anyassociated fund transfers or payments may be automatically madeaccordingly. For example, if an executor 120 broadcasts that it hascompleted a particular milestone of a social impact project, the smartcontract 101 may be consulted to determine any next actions to take,such as providing funds automatically to the wallet 121 of the executor120. In some instances, achievement of the milestone may be subject toverification, such as by a backer 130 or operator of the SOF 105. Otherconditions 306 with corresponding self-executing code 308 may be encodedinto the smart contract 101, such as when the SOF 105 was created.

FIG. 4 illustrates an example of a process 400 of issuing crypto-tokensrecorded on the blockchain for social impact or social good according toan embodiment. The operations of process 400 presented below areintended to be illustrative and, as such, should not be viewed aslimiting. In some implementations, process 400 may be accomplished withone or more additional operations not described, and/or without one ormore of the operations discussed. In some implementations, two or moreof the operations may occur substantially simultaneously. The describedoperations may be accomplished using some or all of the systemcomponents described in detail above.

In an operation 402, process 400 may include receiving projectparameters for a social impact project. For example, the projectparameters may specify the goal of the project, project milestones,tiered funding, and/or other parameters that describe the project.

In an operation 404, process 400 may include encoding a smart contract,such as a smart contract 101, for the project based on the projectparameters.

In an operation 406, process 400 may include receiving an investmentfrom an investor 110 and adding the investment to the SOF 105. Theinvestment may be received in the form of fiat currency, cryptocurrencyother than tokens 103, other measure of value, or a combination thereof.

In an operation 408, process 400 may include issuing to the investor atoken 103 for the social impact project based on the investment. In someinstances, the token 103 is specific for the social impact project suchthat returns are based on the specific social impact project and notother projects funded by the SOF 105. In other instances, the token 103is general to the SOF 105 such that returns are based on the entirety ofprojects funded by the general SOF 105.

In an operation 410, process 400 may include recording the investmentand token ownership as a block 142 of the decentralized ledger 140.Recording blocks on the decentralized ledger is described herein.

FIG. 5 illustrates an example of a process 500 of providing milestoneupdates for automatically obtaining tiers of funding based on a smartcontract according to an embodiment. The operations of process 500presented below are intended to be illustrative and, as such, should notbe viewed as limiting. In some implementations, process 500 may beaccomplished with one or more additional operations not described,and/or without one or more of the operations discussed. In someimplementations, two or more of the operations may occur substantiallysimultaneously. The described operations may be accomplished using someor all of the system components described in detail above.

In an operation 502, process 500 may include receiving an indication ofprogress in a social impact project from an executor 120. For example,an executor 120 may use her wallet 121 to input achievement of amilestone in the social impact project.

In an operation 504, process 500 may include generating a blockchaintransaction specifying the progress. For example, the wallet 121 maygenerate one or more messages that specifies that the milestone has beenachieved. This milestone may be identified by a milestone identifierthat was set up when the social impact project was created.

In an operation 506, process 500 may include broadcasting the blockchaintransaction to the blockchain network 108. The blockchain network 108may validate the transaction based on the public key of the executor 120and may consult the smart contract 101 of the project to determinewhether the milestone identifier is a valid milestone. Other validationsmay be performed as well.

In an operation 508, process 500 may include providing funds to theexecutor 120 from the SOF 105 based on the progress indication and termsof the smart contract 101. In some instances, such fund transfer may bemade to the wallet 121 of the executor 120. For example, one or morenodes 104 of the blockchain network 108 may automatically execute theterms of the smart contract 101, and record the blockchain transaction,the transfer of funds to the decentralized ledger 140, or both.

FIG. 6 illustrates an example of a process 600 of automaticallyobtaining funds from backers according to the smart contract accordingto an embodiment. The operations of process 600 presented below areintended to be illustrative and, as such, should not be viewed aslimiting. In some implementations, process 600 may be accomplished withone or more additional operations not described, and/or without one ormore of the operations discussed. In some implementations, two or moreof the operations may occur substantially simultaneously. The describedoperations may be accomplished using some or all of the systemcomponents described in detail above.

In an operation 602, process 600 may include receiving a participationagreement from a backer 130. The backer 130 may include entities thatmay benefit from cost savings and other efficiencies produced by thesocial impact project.

In an operation 604, process 600 may include encoding the terms of theparticipation agreement into the smart contract 101 for the socialimpact project. For instance, payments to be made from the backer 130 tothe SOF 105 and the conditions under which such payment occurs may beencoded into the smart contract 101.

In an operation 606, process 600 may include receiving an indication ofsocial benefit and/or cost savings as a result of the social impactproject. For instance, the executor 120 and/or others may provide anindication that one or more milestones in connection with the discoveryof a new use for a generic drug has been achieved. The new use may beassociated with cost savings and/or an unquantifiable social good thatwas previously agreed to as an objective in the participation agreement.

In an operation 608, process 600 may include automatically obtainingfunds from the backer(s) 130 based on the smart contract 101 and addingthe funds to the SOF 105. These funds may be provided back to theinvestors 110 as a return in accordance with the number of tokens 107held by the investors 110.

It should be noted that the various transactions and fund transfersdescribed herein may take place through various users' wallets (111,121, 131) and/or through other financial accounts.

FIG. 7 illustrates a schematic diagram 700 of a social outcome fund,according to an implementation of the disclosure. Common practicesuggests that social problems can only be addressed by good will in theform of piecemeal government, nonprofit, or philanthropic interventions.This leaves many pressing and costly societal problems as largely unmetneeds. However, a financial tool that captures the positiveexternalities of social good could solve this problem systematically byimplementing the efficiency of a market-driven solution.

The SOF project embodied by the systems and methods described hereinallows for creating and executing a hybrid structure that combines thecore innovation of Pay-for-Success (“PFS”) contracts with theflexibility and risk-tolerance of venture capital involvement. Forexample, the SOF 105 may include a portfolio of high-risk-high-returninvestments, similar to a venture-capital structure, which maydistribute risk. Unlike a VC fund, however, the investments are not incompanies in exchange for equity, but instead are in social goodprojects in exchange for partial ownership of an umbrellashare-in-savings-like agreement with third party backers. Instead ofmergers, acquisitions, or IPOs, these projects successfully “exit” bycreating social good that results in quantifiable financial savings forthe contract's backers.

In order to determine whether or not a project is successful, the SOF105 works with the executors 120 and the backers 130 to agree uponoutcomes-based metrics and milestones. The SOF 105 raises risk capitalfrom investors, and then deploys this capital to multiple projects.Similar to a VC-fund like structure, the SOF 105 may deploy tiered andtranched capital to each project on a case-by-case basis determined bythe stage of development of said project, with continued discretionaryfunding contingent on the project meeting pre-identified milestones. Thebackers 130, who benefit from the success of these projects, sign ashare-in-savings-like contract with the SOF 105. In this contract, thebackers 130 may agree to pay a percentage of the costs saved due to thesuccess of projects back to the SOF 105. Thus, upon success of a projectin the portfolio of the SOF 105, the backers 130 pay out a percentage ofthe savings that the project generates. Unlike PFS contracts, under theumbrella contract the backers 130 agree to back all of the projects inthe portfolio of SOF 105 on a pro rata basis. This eliminates theinefficiencies of forming several traditional PFS contracts.Furthermore, combining this umbrella contract with a VC fund-likestructure opens up a new class of assets that were previouslyun-fundable by traditional PFS contracts, includinghigh-risk-high-reward social impact projects (SIPs), early-stage SIPs,long-term SIPs, small SIPs, basic research, prize- and revenue-backedSIPs, crowdsource-backed SIPs, multinational- and consortium-backedSIPs, SIPs executed by multiple and potentially competing executors,crowdsourced investment-funded SIPs, and/or other project fundingmechanisms. Upon payment from the backers, the SOF 105 then distributesthe carry similar to a traditional venture capital model.

Further, unlike social impact bonds (SIBs) or PFS contracts, the SOF 105may deploy funds to multiple projects at different stages ofdevelopment, providing subsequent follow-on funding as each project isde-risked. This allows the SOF 105 to develop early-stage andhigh-risk/high-reward projects that are currently un-fundable, such asbasic research and drug development. Simultaneously, this structure ofstaged investment and diversification de-risks the SOF 105 overall. TheSOF 105 may also differ from traditional PFS in that it will not belimited to a single rigid contract with a single backer. The SOF 105 mayinclude backers from both the private and public sector, who will payreturns on a pro rata basis.

The SOF 105 may also be formed as a permanent capital structure. Bycreating a fluid umbrella contract under which each of the projects andbackers can interact, the SOF 105 will expand the size of the market inwhich the PFS mechanism can act. By combining the PFS mechanism with aventure-capital-like structure, and ultimately securitizing socialoutcomes-based contracts, the SOF 105 unlocks a new asset class forimpact investing. The fund could be structured as a traditional 2/20 feestructure with General Partners and Limited Partners, or otherwise, andincludes the possibility of incentivizing executors of the projects byentitling them to a portion of the return.

In some implementations, SOF 105 may comprise an equity security modelin which increments (“shares”) of social outcomes-based investments canbe bought or sold, thereby creating a market with liquidity. Forexample, a secondary market may be established to facilitate thepurchase, sale, and/or exchange of tokens (e.g., tokens 103) issuedspecifically for a social impact project or other project implementedvia or associated with the SOF 105. In some implementations, a platform,marketplace, and/or exchange may be established to facilitate theexchange of social outcomes-based projects. For example, a platform,marketplace, and/or exchange for the direct sale of investments intoprojects implemented via SOF 105 may be established. In an exampleimplementation, a decentralized exchange may be established thatfacilitates the purchase, sale, or exchange of assets associated withprojects implemented via the SOF 105. Transactions facilitated throughthe decentralized exchange may be recorded to a blockchain andaccessible via a decentralized ledger. The assets purchased, sold,and/or exchanged may comprise template or standardized tokens,contracts, pre-contracted or pre-bundled backers, and/or other assetsassociated with SOF 105. In this vein, the systems and methods describedherein may include the creation of a social impact and social goodeconomy.

In some implementations, a platform, marketplace, and/or software may becreated to facilitate the formation and establishment of socialoutcomes-based projects. This platform, marketplace, and/or software mayinclude standard contracts; template contracts; pre-negotiated contractswith backers; standardized metrics and/or milestones; template metricsand/or milestones; evaluation of metrics and/or milestones; and/orverification of milestone attainment. This platform, marketplace, and/orsoftware may facilitate backer consortiums; serve as a liaison/middleman(automated or otherwise) between projects, backers, and/or investors;and/or provide infrastructure for crowd-sourcing and/or crowd-funding.In some implementations, this may include additional tools to facilitateestablishing or executing social outcomes-based projects, similar to howAmazon, Kickstarter, and the Facebook Platform provide services andtools to users including, but not limited to: payment infrastructure,distribution, marketing, and compliance support.

This fund structure differs significantly from classic “social impactinvesting,” which can be found amongst firms such as, but not limitedto, Goldman Sachs or BlackRock. “Social impact investing” is a class ofinvesting characterized by a double bottom line in which the value ofthe social good created is often inversely proportional to the financialgain. As a result, “social impact investing” is incompatible withtraditional venture capital (which expects 10× returns). “Social impactinvesting” instead attracts a niche group of investors, often investingin the form of offset against tax liability. Unlike “social impactinvesting”, the SOF 105 model has a correlated, dependent, andproportional or “braided” bottom line: instead of competing, the amountof social good generated drives the rate of return.

The SOF 105 may be applied to many fields in which societal needs areunmet by traditional financial tools. The following use in a genericdrug context is described for illustration and not necessarilylimitation.

An unmet need in biomedical research relates to the challenge ofrepurposing generic drugs, which is currently considered un-fundable.The Problem of Repurposing' is a textbook example of the hithertointractable class of market problems that are made solvable by the SOF105. Drug development is an expensive and time-consuming process. Itoften takes more than 10 years and over a billion dollars to bring asingle new drug to market. Moreover, it's highly risky; mostinvestigational drugs (or “compounds”) fail along the way due toinsufficient safety or efficacy. Repurposing generics for newindications offers a cheaper, faster alternative. Generics are drugsthat have previously been FDA approved and have since gone off patent.Generics can skip years of safety testing and are more likely than newcompounds to be efficacious for other diseases due to redundancy inbiology.

On average, approval takes half the time for repurposed generics, is100-fold less expensive, and likelihood of success rises from 1:10,000to 1:5. Though these new uses are technically patentable, the ability ofdoctors to prescribe “off-label” makes method-of-use patents impossibleto enforce. As a result, despite clear social benefit, generic drugs arerarely repurposed due to insufficient financial incentives.

The SOF 105 may provide a market solution to this previously intractableproblem by capturing the value of medical savings, pooling risk acrossdrug assets, and staging investment. This novel structure creates analternative up-front funding source for the research and developmentnecessary to repurpose drugs for new disease indications. The SOF 105may invest in multiple generics, each starting at various stages ofpreclinical and clinical development. This diversified portfoliode-risks the SOF 105, mitigating the residual risk of pharmaceuticaldevelopment. Additionally, the potential massive savings fromrepurposing generics ensures that investors will see high returns ontheir initial investments.

The SOF 105 may simultaneously develop socially beneficial medicalinterventions and other beneficial societal outcomes, and be financiallylucrative to those who invest in the SOF 105.

FIG. 8 illustrates an example of a process 800 of implementing a socialimpact fund, according to an implementation of the disclosure.

In an operation 802, process 800 may include receiving an investmentfrom an investor. Operation 802 may include adding the investment to theSOF 105.

In an operation 804, process 800 may include recording the investment.For instance, an amount of the investment may be recorded so that ashare of any returns may be provided to the investor based on theamount. In some instances, a particular social impact project isrecorded for implementations in which an investor wishes to invest in aparticular project. In some instances, an indication of whether all orportion of the investment should be considered a donation may berecorded for tax purposes (and to later distribute the returns back tothe SOF 105 instead of the donor), and/or as a convertible grant.

In an operation 806, process 800 may include receiving an indication ofprogress (such as starting a project or milestone, or completion of amilestone or project) from an executor 120.

In an operation 808, process 800 may include providing funds to theexecutor 120 from the SOF 105 based on the progress.

In an operation 810, process 800 may include receiving an indication ofsocial benefit or savings created by the project.

In an operation 812, process 800 may include receiving funds from thebacker(s) 130 based on the created benefit or savings. Alternatively oradditionally, operation 812 may include receiving profits, royalties, orother funds from the executor 120. For example, the executor 120 mayhave commercialized a product or service as a result of the project andmay have agreed to provide at least a portion of the proceeds from suchcommercialization back to the SOF 105 in exchange for having funded theproject.

In an operation 814, process 800 may include providing backer funds,profits, and/or other gains relating to the project to the investorbased on the investment amount from the investor. It should be notedthat multiple investors may be provided with pro rata returns based ontheir respective investments in the SOF 105.

As described herein, tokens 103 may be referred to in terms of units ornumbers of tokens. However, it should be noted that any such descriptionis not intended to mean an integer number. Rather, a number or value oftokens 103 may relate to a fraction, a measure of value in anothercurrency such as fiat currency, and/or other quantification of value.

The various components of system 100 described herein, such as server106, nodes 109, and devices that execute the various wallets (111, 121,131) may include one or more physical processors that are programmed bycomputer program instructions. Furthermore, the various instructions maybe co-located within a single processing unit or, in implementations inwhich processor(s) 812 may each include multiple processing units, maybe distributed and executed at multiple processing units. The variousinstructions described herein may be stored in a storage device, whichmay comprise random access memory (RAM), read only memory (ROM),network-based “cloud” memory, other memory, or a combination thereof.The storage device may store the computer program instructions (e.g.,the aforementioned instructions) to be executed by the processor(s) aswell as data that may be manipulated by the processor(s). The storagedevice 814 may comprise hard disks, optical disks, tapes, or otherstorage media for storing computer-executable instructions, data, orboth.

Various data such as project parameters, information about variousparties, other data, or a combination thereof may be stored in one ormore databases off-blockchain (i.e., not on the decentralized ledger140). For example, in some implementations, all or some of the variousdata described herein may be stored and represented via tokens (e.g.,for which a record may be stored in a decentralized ledger). The variousdatabases may be, include, or interface to, for example, an Oracle™relational database sold commercially by Oracle Corporation. Otherdatabases, such as Informix™, DB2 or other data storage, includingfile-based, or query formats, platforms, or resources such as OLAP (OnLine Analytical Processing), SQL (Structured Query Language), a SAN(storage area network), Microsoft Access™ or others may also be used,incorporated, or accessed. The database may comprise one or more suchdatabases that reside in one or more physical devices and in one or morephysical locations. The database may include cloud-based storagesolutions. The database may store a plurality of types of data, files,or both, and associated data or file descriptions, administrativeinformation, or any other data. The various databases may storepredefined data, customized data, or both, as described herein.

In other implementations, all or some of the various data describedherein may be securitized without tokens using one or moresecuritization techniques now known or future developed, for example, aniteration of the social outcomes fund described in FIG. 7 and FIG. 8 ,wherein shares in the fund are transacted off-chain. Off-chainimplementations of the various data described herein may also benon-securitized.

FIG. 9 is an example schematic diagram of a system 900 utilizedaccording to various disclosed embodiments. The system 900 includes aprocessing circuitry 910 coupled to a memory 920, a storage 930, and anetwork interface 940. In an embodiment, the components of the system900 may be communicatively connected via a bus 950.

The system 900 may be utilized in accordance with various disclosedembodiments. As an example, the system 900 may store a smart contract(e.g., the smart contract 101, FIG. 1 ), encode a smart contract, orboth. When the system 900 stores a smart contract, the system 900 isconfigured to execute the processes encoded in the self-executing codeof the smart contract, thereby enforcing the smart contract. In anexample implementation, the components of the system 900 may be includedin the social outcome server 106, FIG. 1 .

The processing circuitry 910 may be realized as one or more hardwarelogic components and circuits. For example, and without limitation,illustrative types of hardware logic components that can be used includefield programmable gate arrays (FPGAs), application-specific integratedcircuits (ASICs), Application-specific standard products (ASSPs),system-on-a-chip systems (SOCs), graphics processing units (GPUs),tensor processing units (TPUs), general-purpose microprocessors,microcontrollers, digital signal processors (DSPs), and the like, or anyother hardware logic components that can perform calculations or othermanipulations of information.

The memory 920 may be volatile (e.g., RAM, etc.), non-volatile (e.g.,ROM, flash memory, etc.), or a combination thereof.

In one configuration, software for implementing one or more embodimentsdisclosed herein may be stored in the storage 930. In anotherconfiguration, the memory 920 is configured to store such software.Software shall be construed broadly to mean any type of instructions,whether referred to as software, firmware, middleware, microcode,hardware description language, or otherwise. Instructions may includecode (e.g., in source code format, binary code format, executable codeformat, or any other suitable format of code). The instructions, whenexecuted by the processing circuitry 910, cause the processing circuitry910 to perform the various processes described herein.

The storage 930 may be magnetic storage, optical storage, and the like,and may be realized, for example, as flash memory or other memorytechnology, CD-ROM, Digital Versatile Disks (DVDs), or any other mediumwhich can be used to store the desired information.

The network interface 940 allows the system 900 for purposes such as,but not limited to, recording transactions on the blockchain network.

It should be understood that the embodiments described herein are notlimited to the specific architecture illustrated in FIG. 9 , and otherarchitectures may be equally used without departing from the scope ofthe disclosed embodiments.

The various components illustrated in the Figures may be coupled to atleast one other component via a network, which may include any one ormore of, for instance, the Internet, an intranet, a PAN (Personal AreaNetwork), a LAN (Local Area Network), a WAN (Wide Area Network), a SAN(Storage Area Network), a MAN (Metropolitan Area Network), a wirelessnetwork, a cellular communications network, a Public Switched TelephoneNetwork, another network, or a combination thereof. In FIG. 1 , as wellas in other drawing Figures, different numbers of entities than thosedepicted may be used. Furthermore, according to various implementations,the components described herein may be implemented in hardware, softwarethat configure hardware, or a combination thereof.

The various embodiments disclosed herein can be implemented as hardware,firmware, software, or any combination thereof. Moreover, the softwareis preferably implemented as an application program tangibly embodied ona program storage unit or computer readable medium consisting of parts,or of certain devices and/or a combination of devices. The applicationprogram may be uploaded to, and executed by, a machine comprising anysuitable architecture. Preferably, the machine is implemented on acomputer platform having hardware such as one or more central processingunits (“CPUs”), a memory, and input/output interfaces. The computerplatform may also include an operating system and microinstruction code.The various processes and functions described herein may be either partof the microinstruction code or part of the application program, or anycombination thereof, which may be executed by a CPU, whether or not sucha computer or processor is explicitly shown. In addition, various otherperipheral units may be connected to the computer platform such as anadditional data storage unit and a printing unit. Furthermore, anon-transitory computer readable medium is any computer readable mediumexcept for a transitory propagating signal.

All examples and conditional language recited herein are intended forpedagogical purposes to aid the reader in understanding the principlesof the disclosed embodiment and the concepts contributed by the inventorto furthering the art, and are to be construed as being withoutlimitation to such specifically recited examples and conditions.Moreover, all statements herein reciting principles, aspects, andembodiments of the disclosed embodiments, as well as specific examplesthereof, are intended to encompass both structural and functionalequivalents thereof. Additionally, it is intended that such equivalentsinclude both currently known equivalents as well as equivalentsdeveloped in the future, i.e., any elements developed that perform thesame function, regardless of structure.

It should be understood that any reference to an element herein using adesignation such as “first,” “second,” and so forth does not generallylimit the quantity or order of those elements. Rather, thesedesignations are generally used herein as a convenient method ofdistinguishing between two or more elements or instances of an element.Thus, a reference to first and second elements does not mean that onlytwo elements may be employed there or that the first element mustprecede the second element in some manner. Also, unless statedotherwise, a set of elements comprises one or more elements.

As used herein, the phrase “at least one of” followed by a listing ofitems means that any of the listed items can be utilized individually,or any combination of two or more of the listed items can be utilized.For example, if a system is described as including “at least one of A,B, and C,” the system can include A alone; B alone; C alone; 2A; 2B; 2C;3A; A and B in combination; B and C in combination; A and C incombination; A, B, and C in combination; 2A and C in combination; A, 3B,and 2C in combination; and the like.

What is claimed is:
 1. A method for digital tokenization, comprising:issuing a token to a user based on an investment made by the user,wherein issuing the token to the user further comprises recording afirst transaction on a decentralized ledger indicating ownership of thetoken; distributing the decentralized ledger across a plurality of nodesamong a decentralized network such that at least one portion of code isstored across the plurality of nodes, wherein the at least one portionof code is encoded based on a plurality of project parameters of animpact project; recording at least one third transaction on thedecentralized ledger, wherein recording each of the at least one thirdtransaction further comprises generating a transaction specifyingprogress on the impact project and broadcasting the generatedtransaction as one of the at least one third transaction to thedecentralized network; and recording, via the at least one portion ofcode, at least one second transaction on the decentralized ledger basedon the plurality of project parameters and the at least one thirdtransaction recorded on the decentralized ledger, wherein each secondtransaction includes a respective transfer via the token issued to theuser.
 2. The method of claim 1, wherein the at least one portion of codeis configured to record at least one transaction via the decentralizedledger.
 3. The method of claim 1, wherein the at least one thirdtransaction indicates at least one milestone of the impact project thathas been achieved, wherein the at least one second transaction includestransferring at least one prize based on the at least one milestone ofthe impact project that has been achieved.
 4. The method of claim 3,wherein each of the at least one milestone corresponds to one of the atleast one portion of code.
 5. The method of claim 1, wherein the atleast one third transaction indicates at least one metric of the impactproject that has been met, wherein the at least one second transactionincludes transferring based on the at least one metric of the impactproject that has been met.
 6. The method of claim 5, wherein each of theat least one metric corresponds to one of the at least one portion ofcode.
 7. The method of claim 5, wherein the at least one secondtransaction includes transferring at least a portion of a prize based onthe at least one metric of the impact project that has been met.
 8. Themethod of claim 5, wherein the at least one second transaction includestransferring value based on the at least one metric of the impactproject that has been met.
 9. The method of claim 1, wherein the tokenhas a value, wherein the value is backed by at least one external asset.10. The method of claim 9, wherein the at least one external asset isreal estate, wherein the value of the token is based on a value of thereal estate caused by the impact project.
 11. The method of claim 10,wherein the value of the token is based further on a change in value ofthe real estate caused by the impact project.
 12. The method of claim10, wherein the value of the token is based further on a prevention ofloss of the real estate caused by the impact project.
 13. The method ofclaim 1, wherein the impact project is a climate change project.
 14. Themethod of claim 1, wherein the impact project includes repurposing of atleast one drug for a new disease indication.
 15. The method of claim 14,wherein the at least one drug includes a plurality of drugs at aplurality of stages of development.
 16. The method of claim 1, whereinthe respective transfer included in each second transaction is atransfer of value.
 17. The method of claim 1, wherein the at least onesecond transaction includes transferring at least a portion of a prize.18. The method of claim 1, wherein the token is at least partiallybacked via crowdfunding or crowdsourcing.
 19. The method of claim 1,wherein a value of the token is at least partially based on a savings.20. A non-transitory computer readable medium having stored thereoninstructions for causing a processing circuitry to execute a process,the process comprising: issuing a token to a user based on an investmentmade by the user, wherein issuing the token to the user furthercomprises recording a first transaction on a decentralized ledgerindicating ownership of the token; distributing the decentralized ledgeracross a plurality of nodes among a decentralized network such that atleast one portion of code is stored across the plurality of nodes,wherein the at least one portion of code is encoded based on a pluralityof project parameters of an impact project; recording at least one thirdtransaction on the decentralized ledger, wherein recording each of theat least one third transaction further comprises generating atransaction specifying progress on the impact project and broadcastingthe generated transaction as one of the at least one third transactionto the decentralized network; and recording, via the at least oneportion of code, at least one second transaction on the decentralizedledger based on the plurality of project parameters and the at least onethird transaction recorded on the decentralized ledger, wherein eachsecond transaction includes a respective transfer via the token issuedto the user.
 21. A system for digital tokenization, comprising: aprocessing circuitry; and a memory, the memory containing instructionsthat, when executed by the processing circuitry, configure the systemto: issue a token to a user based on an investment made by the user,wherein issuing the token to the user further comprises recording afirst transaction on a decentralized ledger indicating ownership of thetoken; distribute the decentralized ledger across a plurality of nodesamong a decentralized network such that at least one portion of code isstored across the plurality of nodes, wherein the at least one portionof code is encoded based on a plurality of project parameters of animpact project; record at least one third transaction on thedecentralized ledger, wherein recording each of the at least one thirdtransaction further comprises generating a transaction specifyingprogress on the impact project and broadcasting the generatedtransaction as one of the at least one third transaction to thedecentralized network; and record, via the at least one portion of code,at least one second transaction on the decentralized ledger based on theplurality of project parameters and the at least one third transactionrecorded on the decentralized ledger, wherein each second transactionincludes a respective transfer via the token issued to the user.
 22. Thesystem of claim 21, wherein the at least one portion of code isconfigured to record at least one transaction via the decentralizedledger.
 23. The system of claim 21, wherein the at least one thirdtransaction indicates at least one milestone of the impact project thathas been achieved, wherein the at least one second transaction includestransferring at least one prize based on the at least one milestone ofthe impact project that has been achieved.
 24. The system of claim 23,wherein each of the at least one milestone corresponds to one of the atleast one portion of code.
 25. The system of claim 21, wherein the atleast one third transaction indicates at least one metric of the impactproject that has been met, wherein the at least one second transactionincludes transferring based on the at least one metric of the impactproject that has been met.
 26. The system of claim 25, wherein each ofthe at least one metric corresponds to one of the at least one portionof code.
 27. The system of claim 25, wherein the at least one secondtransaction includes transferring at least a portion of a prize based onthe at least one metric of the impact project that has been met.
 28. Thesystem of claim 25, wherein the at least one second transaction includestransferring value based on the at least one metric of the impactproject that has been met.
 29. The system of claim 21, wherein the tokenhas a value, wherein the value is backed by at least one external asset.30. The system of claim 29, wherein the at least one external asset isreal estate, wherein the value of the token is based on a value of thereal estate caused by the impact project.
 31. The system of claim 30,wherein the value of the token is based further on a change in value ofthe real estate caused by the impact project.
 32. The system of claim30, wherein the value of the token is based further on a prevention ofloss of the real estate caused by the impact project.
 33. The system ofclaim 21, wherein the impact project is a climate change project. 34.The system of claim 21, wherein the impact project includes repurposingof at least one drug for a new disease indication.
 35. The system ofclaim 34, wherein the at least one drug includes a plurality of drugs ata plurality of stages of development.
 36. The system of claim 21,wherein the respective transfer included in each second transaction is atransfer of value.
 37. The system of claim 21, wherein the at least onesecond transaction includes transferring at least a portion of a prize.38. The system of claim 21, wherein the token is at least partiallybacked via crowdfunding or crowdsourcing.
 39. The system of claim 21,wherein a value of the token is at least partially based on a savings.